Which of the following equations does NOT state a condition required for equilibrium output:?
A) Y = C(Yd) + I + G + CA(EP*/P,Yd)
B) Y = C(Y - T) + I + G + CA(EP*/P,Y - T)
C) Y = D(EP*/P,Y - T,I,G)
D) R = R* + (EP/E)
E) Y = D(EP*/P,Yd,I,G)
D
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The federal government _______ securities (treasury bonds, notes, and bills) to cover its budget deficits.
a. buys b. sells c. trades d. creates
The greatest expansion of the automobile industry occurred in the decade of the ______.
Fill in the blank(s) with the appropriate word(s).
Equilibrium GDP on the demand side occurs when total spending
A. equals total production, and inventories are zero. B. equals total production, and firms are unable to adjust inventories. C. exceeds total production, and inventories are rising. D. equals total production, and inventories remain at desired levels. E. is less than total production, and inventories are falling.
If we wanted to consider all the money that had been "multiplied" in the economy, we would think about:
A. M2. B. M1. C. hard money. D. None of these.